On September 29, 2021, the Securities and Exchange Commission (SEC) released a notice that on September 16, 2021, the New York Stock Exchange (NYSE) filed a proposal seeking approval of a proposed amendment to its shareholder approval rules. The NYSE's latest proposed amendment to Rule 312.07 would clarify long-standing confusion about the treatment of abstention votes for certain security issuances that require shareholder approval by aligning the NYSE rule with a NYSE-listed company's governing documents and applicable state corporate law, which is consistent with the Nasdaq Stock Market LLC's (Nasdaq) practices. Continue reading >